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Posted: Sun Mar 14, 2021 10:08 am
by Anonymous User
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Re: Incoming associate at a firm that doesn't pay market
Posted: Sun Mar 14, 2021 11:06 am
by Anonymous User
This is highly dependent on your school/grades.
I’ve had friends who lucked into jobs at some of the firms in the lower part of the V100 and they are still stuck there years later. I was able to get a job that paid market then tapered off too with mediocre stats. It took me over a year to find another position at a market paying firm.
Lateraling that early in your career is still heavily dependent on your stats, unfortunately.
So, if you were at a T14 with above median grades, I think you could probably lateral now.
If you were like a Fordham or GW grad who was below median, probably less likely.
Re: Incoming associate at a firm that doesn't pay market
Posted: Sun Mar 14, 2021 11:13 am
by hdr
You can lateral after one year depending on market conditions, but mid-levels typically have an easier time. Be strategic about it since you’ll be want to spend more time at your next firm (unless exiting to gov/in-house).
Demand for laterals is usually much higher in corporate practices than in litigation. Make sure you’re not starting in an area that’s too niche, unless it’s what you really want to do.
I agree T14 grads will have a much easier time, but there are plenty of V50 firms that pay market (salary + bonus) and hire well outside the T14.
Re: Incoming associate at a firm that doesn't pay market
Posted: Sun Mar 14, 2021 1:15 pm
by Anonymous User
hdr wrote: ↑Sun Mar 14, 2021 11:13 am
You can lateral after one year depending on market conditions, but mid-levels typically have an easier time. Be strategic about it since you’ll be want to spend more time at your next firm (unless exiting to gov/in-house).
Demand for laterals is usually much higher in corporate practices than in litigation. Make sure you’re not starting in an area that’s too niche, unless it’s what you really want to do.
I agree T14 grads will have a much easier time, but there are plenty of V50 firms that pay market (salary + bonus) and hire well outside the T14.
Re: Incoming associate at a firm that doesn't pay market
Posted: Mon Mar 15, 2021 10:19 am
by hdr
Anonymous User wrote: ↑Sun Mar 14, 2021 1:15 pm
hdr wrote: ↑Sun Mar 14, 2021 11:13 am
You can lateral after one year depending on market conditions, but mid-levels typically have an easier time. Be strategic about it since you’ll be want to spend more time at your next firm (unless exiting to gov/in-house).
Demand for laterals is usually much higher in corporate practices than in litigation. Make sure you’re not starting in an area that’s too niche, unless it’s what you really want to do.
I agree T14 grads will have a much easier time, but there are plenty of V50 firms that pay market (salary + bonus) and hire well outside the T14.
OP here. Thanks for this. I'm at T14 but my GPA isn't great (below median). My question is, should I stay at the current firm for at least 2 years and lateral as a 3rd year or should I try only after 1 year? I'll be in a corporate transaction group.
There's no harm in trying to lateral after a year. It's possible some interviewers will think you're being pushed out early, but they'll probably understand you want better comp and higher-profile work. That said, 3-5 years is the sweet spot for lateraling, and you'll have a lot more options if you wait until then. It might not make sense just to go to the first market-paying firm that will take you.
Grades won't matter much.